A meeting of the Working Group on the Law on Foreign Investment was held to discuss updates to the draft legislation.
During the meeting, State Secretary of the Ministry of Economy and Development I. Batkhuu underlined the importance of aligning the group’s activities with the ministry’s broader efforts to improve the legal environment for protecting investors’ rights and supporting entrepreneurs. These efforts are being carried out under the framework of a legislative package aimed at supporting wealth creators.
It was noted that, following recent changes in the composition of the Government of Mongolia, the concept of the draft law will be reapproved. The Working Group also agreed to review new proposals and requests submitted by the private sector and professional associations, with a view to incorporating practical solutions to current challenges in the investment environment.
The meeting further resolved that the Working Group will reconvene in the near future to deliberate on proposals related to establishing mechanisms for investor dispute resolution, creating a formal system for handling investor complaints, and easing existing restrictions and limitations on foreign investors and foreign-invested enterprises.
